AGF Management Ltd. Decreases Stock Holdings in Agnico Eagle Mines Limited (NYSE:AEM)

AGF Management Ltd. decreased its holdings in shares of Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 10.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,250,690 shares of the mining company’s stock after selling 145,160 shares during the period. AGF Management Ltd. owned about 0.25% of Agnico Eagle Mines worth $135,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital World Investors lifted its position in shares of Agnico Eagle Mines by 41.9% during the 4th quarter. Capital World Investors now owns 13,952,061 shares of the mining company’s stock valued at $1,091,550,000 after buying an additional 4,121,164 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Agnico Eagle Mines by 3.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,441,198 shares of the mining company’s stock valued at $1,457,160,000 after buying an additional 499,362 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Agnico Eagle Mines by 0.7% during the 4th quarter. Deutsche Bank AG now owns 11,916,739 shares of the mining company’s stock valued at $932,008,000 after buying an additional 87,410 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Agnico Eagle Mines by 42.8% during the 1st quarter. TD Asset Management Inc now owns 9,033,296 shares of the mining company’s stock valued at $978,553,000 after buying an additional 2,709,005 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Agnico Eagle Mines by 11.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,720,301 shares of the mining company’s stock valued at $728,214,000 after buying an additional 673,400 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Agnico Eagle Mines Stock Down 0.1%

Shares of NYSE:AEM opened at $135.66 on Monday. The business has a 50-day moving average price of $122.78 and a 200 day moving average price of $111.96. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $68.21 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 0.94 and a beta of 0.44. Agnico Eagle Mines Limited has a 12-month low of $72.78 and a 12-month high of $137.81.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.11. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.46 billion. Agnico Eagle Mines had a return on equity of 13.79% and a net margin of 30.63%. The company’s quarterly revenue was up 35.6% on a year-over-year basis. During the same period last year, the company earned $1.07 EPS. Sell-side analysts expect that Agnico Eagle Mines Limited will post 4.63 EPS for the current year.

Agnico Eagle Mines Announces Dividend

The firm also recently disclosed a dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.40 per share. This represents a dividend yield of 136.0%. The ex-dividend date of this dividend was Friday, May 30th. Agnico Eagle Mines’s dividend payout ratio (DPR) is presently 27.21%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AEM. Royal Bank Of Canada raised their price objective on Agnico Eagle Mines from $115.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Raymond James Financial upgraded Agnico Eagle Mines to a “moderate buy” rating and set a $130.00 price objective on the stock in a report on Monday, June 30th. Lake Street Capital restated a “buy” rating on shares of Agnico Eagle Mines in a report on Monday, June 23rd. CIBC restated an “outperform” rating on shares of Agnico Eagle Mines in a report on Tuesday, July 15th. Finally, TD Securities upgraded Agnico Eagle Mines to a “strong-buy” rating in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $136.90.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited, a gold mining company, exploration, development, and production of precious metals. It explores for gold. The company's mines are located in Canada, Australia, Finland and Mexico, with exploration and development activities in Canada, Australia, Europe, Latin America, and the United States.